Do companies experience stages of business grief? No college psychology class would be complete without a discussion of the 5 stages of grief outlined by Elisabeth Kubler-Ross in her 1969 book On Death and Dying.
For those of you who skipped (or slept through) the lecture, the 5 stages are:
So, do businesses experience similar stages of business grief when faced with crisis or catastrophe? In a recent post, we explored how (and whether) Houston businesses are dealing with the sharp drop in oil prices over the past 6 months. It would be naïve to think that the situation won’t result in a crisis for at least some of Houston’s businesses.
To explore how a business might deal with such a crisis, we wrote an article that talks about the 5 stages of grief and how they might manifest themselves in a business setting. Click here to check it out.